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Hi Speedy. I assure you I'm not ramping its reality based on results, the PFS was my first hurdle and then the next set of results, they are far above my expectations which I try to keep conservative and POG I'm all for PM's in general as a store of wealth but we are coming to the end of what has been a difficult period. So all good Speefy all good
Hi Delboy. Good to hear it. I will watch the 2 vids later. ATB Speedy
Hi Tymers. My eyes must be playing me up. I am sure i just read two posts from you ramping GGP and the POG. Must get myself some new glasses. ATB Speedy
Hi Huncher. This is the way i see it. China has in excess of 30000 tons of gold its citizens old a further (approx) 20000 tons. It is in Chinas interest to see a much higher POG. Chinas business is business and i see no problem with them controlling the POG. Anything is better than the present set up with COMEX and LBMA, they do not call it the London PM fix for no reason. If Basel111 is not the end game for the price manipulation then Chinas massive physical market(SGE) will make the paper market nonsensical. ATB Speedy
Speedy, take your point re BIS although Fed would have input into US position,. A thought occurred re Russia and particularly China, are they clearing the way to take control of pricing. Is that good for Gold or out of the frying pan into the fire.
Speedie, as an avid goldbug myself I totally agree with your sentiment hence my largest position is here in GGP and I'm happy to hold for many years to come as the resource grows and POG goes parabolic.
I do think a mix with BTC is a very sensible idea though. Not saying go all in, but its the future.
Lawrence Lepard is a true precious metals genius and he is long both gold, silver and BTC.
Some of his recent interviews here about the dollar losing long term are excellent;-
Hi Zoros. I have already accumulated and am all in PMs and GGP. Plus a small punt a few others that i am to embarrassed to declare. ATB Speedy
I agree, the wealthy amongst Real Estate, Art, Land will invest in Gold and it is a matter of time
Look over the last 20 years
20 years Gain 544%
5 Years 41%
1 Year -3%
The last 12 to 24 months is a decline for obvious reasons, whilst the next 2 to 5 years will feel like 2 steps forward , 1 back it will gain value
Hi Huncher. I agree, the criminals who run the PMs space will try to circumnavigate Basel111. The FED had no say in the matter, the pressure on the BIS came from China/Russia (so some say). It is not only about the PMs space, Basel111 will send ripples all thru derivative trading making it unprofitable to "naked trade". Early in the new year we will see what, if anything, will happen. All manipulated markets revert back to true value, the PMs space is no different. ATB Speedy
Hi Speedy, appreciate your response, thanks. Panic stemmed from the plethora of PoG posts that have been advertised on this forum for a long long time, not all by you I hesitate to state.
I wish you well in your AUspicious EQuity accumulation ;)
I agree with speedy, Gold & Silver is where those who have wealth store that wealth, and at the mo ent both are cheap especially silver. It has been the only true money for thousands of years, everything else is Fiat currency and all Fiat currency eventually fail if not backed by gold & silver. Do your own research , look at Kitco News or Stansberry Research or there are plenty of others. People like Tavi Costa, Edward Griffin, Rick Rule, again plenty to choose from. It is cheap at the moment and that is always the best time to buy.Also just my opinion , GL
Speedy I do not share your optimism regarding the manipulation coming to an end shortly (they will find workarounds if it ever happens, amazed the Fed acquiesced) unless they see more lucrative opportunities in crypto
Hi Zoros. The citizens of two of the most populated nations on earth India/China plus many others use gold as a store of wealth. I do not try to panic folks into buying physical gold and you are being a tad unfair saying so. I have stated on here many times that holding gold is better than saving £s $s and stand by that. Not many westerners hold gold, mainly because the mainstream medias bias, also brokers and financial advisers have no financial incentive to promote the investment case for gold. I try to counter that bias where ever i go. My main reason for pushing gold ownership at the moment is due to the manipulation coming to an end soon and leaving it too late to get physical gold will cost a considerable amount /oz more in the near future (IMO). ATB Speedy
Afternoon Speedy - hope you are well?
You know I have to respond to this...;)
Last....first: When The Weimar Republic had to pay back the cost of its WW1, it is the way they went about it that led to the collapse of the Mark.
I think you cannot consider this in your argument because we are not at war. If we were, the last thing on anyone's mind would be a phone call to the bank to sell off one's gold.
You know, I know....we all know that a miniscule fraction of the public "hold gold". They have no need to because for as long as they can recall (ie: 1945), the threat to the nation no longer existed. The question nearly every person must be asking is: is there an existential threat to the well being of the individual and their relatives in the foreseeable future? Of course there isn't, so why would anyone 'hoard' gold? If the answer to the above was...yes there is another global threat imminent (war/pestilence/climate), the last thing on their list of things to do would be: buy gold.
Buying and dealing in gold (I would respectfully suggest) is the preserve of the rich and the sophisticated investor. It doesn't register with the proletariat one jot.
If anyone has to ring the bank to sell some of their gold reserves to survive financially, I would suggest the country would be worried about far bigger issues, don't you think.
By all means hedge against inflation, circumvent market disasters, but don't 'panic' people into thinking they must buy gold to survive........
They'll be hoarding food tins next.......ooops!
Hi All. The action in our SP is good as far as i am concerned, usually a spike prior to news and a sell off after, this time it is different with no real action. Shorters, manipulators, bent MM spivs, who cares? Only those who need to sell, should not have invested funds in the first place. Hav is massive and will benefit all who hold for gold. Mentioning gold, i have to respond to Zoros post last night. Folks hold gold for a variety of reasons but there are many who hold none. When the many realize that holding funds in £ $ is costing them 10%/yr and carries a risk of bail in they will look at gold in a different light. I use gold as a store and with one pone call can have funds in my bank in minutes. I respect Zoros opinion but to say "the POG does not effect Joe public" is totally wrong. As a nation we are in dangerous waters with national debt off the scale and rising. All this debt was made possible by un pegging the £ to gold ($ to gold). The gov is the first user of that debt and when it filters down into the economy the existing £s are diluted (inflation) In the 1920 one of the most powerful countries in the world (Germany) was subjected to hyperinflation and this bought the country(Joe public) to its knees. Do not say it could not happen here. ATB Speedy
"You don't go round to a mate or your boss or your sisters house and discuss how your stash of gold is doing in preparation for D day, do you... or do you?" Erm about that! Nah just joking or am I? :o
"No 'civilised' government will allow rampant 'anything' to run away from them, for fear of public unrest. Once the protests start, the government acts." Are you sure about that, history would beg to differ!
"We're not at war, we are not under seige, we are a civilised society functioning within controlled parameters." This board begs to differ on civilised point! :p
"Let's keep it in perspective eh? Think of those who living on the breadline.
Shelter food and warmth will always be manageable here....always. We aren't N Korea or Venezuela..........yet!"
"Yet" is the most important word of that final paragraph, dont ever think the shtf cannot happen because history tells us that it can and does happen :)
To end on a positive, we will probably never see it as these things tend to go on for 10s or 100s of years before all hell lets loose! All Imho.
Zoros - at $150/barrel you can make liquid fuel from coal and store the carbon and still make good profit. Given coal costs peanuts to mine any spike in oil or gas prices potentially sustainable at over $100will be tempered by economics on its own (and govt intervention too if required - but it's not)..
zoros. We live in modern times. Neo-Communism runs rampant. If the self-named "elites" get their way we will "Own nothing, and be forced to be happy". I intend to make a pretty penny or three from their fanatical shenanigans!
for: Hydro, re hyper inflation, Spade re gold and King Salman of Saudi Arabia, re oil.........
There seems to be a lot of background chatter regarding these issues but who REALLY cares?
Why so blasé about all of this, one asks......well two reasons:
Some of us have lived with over 25% (mid '70's) and are still here today :)
The PoG doesn't affect Joe Public.
Oil was way higher in 1980 and 2010.
Tell me one (just one) period in history where ANY of the above have crippled Joe Average permanently?
Of course there is the initial 'bite' where we all sit up and pay very close attention to the hikes but shortly thereafter, it is brought back under control by the powers to be.
Oil/Gas/Petrol will be managed by the government.
Gold - apart from a vanishingly small percentage of the world/country who actually trade in gold daily....no-one hordes gold to defend against "ramapnt" inflation or oil prices or anything else for that matter, do they?
You don't go round to a mate or your boss or your sisters house and discuss how your stash of gold is doing in preparation for D day, do you... or do you?
No 'civilised' government will allow rampant 'anything' to run away from them, for fear of public unrest. Once the protests start, the government acts.
We're not at war, we are not under seige, we are a civilised society functioning within controlled parameters.
Let's keep it in perspective eh? Think of those who living on the breadline.
Shelter food and warmth will always be manageable here....always. We aren't N Korea or Venezuela..........yet!